Sold

The Impala

8735 Selkirk Street, Vancouver

Apartment Building
22 Suites

SOLD $3,850,000

Overview

The Impala is a well maintained three storey 22-suite rental apartment building located in Vancouver’s Marpole neighbourhood.  Improved on a 13,000 sq. ft. corner lot, the property features balconies/patios, lockers, storage, parking, hardwood floors and many upgrades.

Location

The Impala is located on the south west corner of Selkirk Street and West 71st in Marpole. A 15-minute walk to the new rapid transit “Marine Drive Station” Canada Line, linking Richmond and the airport with Vancouver via rapid transit.

Conveniently situated near shopping and retail amenities on Granville and Cambie Street with access to major bus routes (bus line on 70th and Oak). The subject is located only two blocks to Oak Street and within excellent proximity to the YVR and various higways to the US and Fraser Valley.

Features

– Rear surface parking for 10 cars
– Large laundry room features 2 new “Huebsch” washers and dryers and includes a bathroom and storage room
– All suites have hardwood floors and breakers
– Full lockers for all tenants
– Separate small workshop area
– Fans in kitchens/bathrooms
– Large well configured suites 19-1Br, 2-2Br, 1-2Br/Den
– Suites on north and west side have balconies

Upgrades

  • Furnace replaced “Super Hot” (1996)
  • 2 hot water tanks (2010 & 2011)
  • New Hardy Board on building’s east side (2011)
  • Torch on roof replaced (2000)
  • Windows on east side replaced (2011)
  • Building repainted (2011)
  • 25% of suites have refinished hardwood floors (approx)
  • 100% of suites have had appliances replaced last 10 years (approx)
  • 75% of suites have received new tile in tub areas (approx)
  • 25% of kitchen counter tops replaced (approx)
  • 50% of kitchen floors replaced (approx)

Summary

Price$3,650,000
Units22
Storeys3
Price/Unit$165,909
Cap Rate3.3%
GIM16.2
Year Built1963
Lot Size13,000 sq. ft.
ZoningRM-3A
PID014-351-951; 014-351-960
Sale Price$3,850,000
Sale Date02/10/2012

Suite Mix

 No. UnitsAvg. Rent
One BedroomNo. Units19Avg. Rent$784
Two BedroomNo. Units2Avg. Rent$1,050
Two Bedroom & DenNo. Units1Avg. Rent$1,232

Financials

FinancingTreat as clear title.
Assessment 2012
Land
Building
Total
Land$2,424,000
Building$653,000
Total$3,077,000
Taxes 2011
$11,951.73
Income and Expenses
Gross Income
Vacancy
Effective Gross
Operating Expenses
Net Operating Income
Gross Income224,556
Vacancy(2,246)
Effective Gross$222,310
Operating Expenses(100,797)
Net Operating Income$121,513
NotesFor current rent roll & expense statement, click here.

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by HQ Commercial.

Mortgage Calculator

Mortgage
Interest rate
Amortized over
Your monthly payment is approximately

* Assumes constant interest rate throughout amortization period

%
year(s)